 | |
| Industry | Hospitality |
|---|---|
| Founded | March 1984 |
| Founder | Paddy McNally |
| Headquarters | , Switzerland |
Number of locations | 22 worldwide |
| Parent | Allsport Management |
The Formula One Paddock Club, known simply as the Paddock Club, is the Formula One hospitality service. Known for its high prices and exclusivity, it caters for VIP guests and team sponsors, offering luxury dining and superior views at Formula One Grand Prix events.
The Formula One Paddock Club was founded by Paddy McNally, chief executive of Allsport Management, a company part of the Formula One Group. McNally originally worked as a sponsorship consultant for Marlboro with John Hogan before becoming a business partner of Bernie Ecclestone. He started working closely with Ecclestone in the late 1970s, chiefly on the circuit advertising, and then on the hospitality concept. Launched in the 1984 season, [1] the Paddock Club first operated at the races in France, Austria and Belgium. In the first year, McNally lost credibility as the Paddock Club met with limited success, having predicted to sell 600 tickets but only managing to sell 170. [2] Frank Williams complained that "this (the Paddock Club) isn't Ascot"! to which the reply was that "it needs to be". [3] McNally considered quitting, but was ultimately persuaded by Ecclestone to hang on. [3]
By 1985, the Paddock Club became more successful; sponsors were attracted and advertisements were coming in. [3] However, the teams complained that the prices were too high and restrictions on access too strict. Ecclestone threatened to close and so the teams were forced to comply. [4] By the late 1980s, the hospitality concept finally turned into a success and was highly lucrative. At the time, notable guests included George Harrison and numerous Hollywood celebrities. [4] [5]
Since McNally sold Allsport to CVC in 2006, and his subsequent retirement in 2011, management of the Paddock Club has been entirely in control of the Formula One Group, itself under the ownership of Liberty Media. Presently, a ticket costs $5000 for a Grand Prix weekend package. Forecasts estimated 50,000 tickets are sold per year. [6] Notable guests have included: Tom Cruise, Keanu Reaves, Michael Douglas and Eva Longoria. [7] [8] [9]
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